| 1) Corporate Information
The Govind Poy Oxygen Ltd is a company registered under Companies Act,
1956. The shares of the company is listed with Bombay Stock Exchange
(BSE). The Company is in the business of production and trading of
Medical Oxygen, Industrial Oxygen, Argon, Nitrogen, Dissolved
Acetylene, etc.
2) Share Capital
The Company has only one class of shares referred to as equity shares
with a face value of Rs. 10/- each. Each holder of equity share is
entitled to one vote per share.
3) In the opinion of the Directors
i) Current Assets, Loans and Advances have at least the values at which
they are stated in the Balance Sheet, realised in the Ordinary Course
of
ii) All known liabilities other than contingent liabilities are
provided for.
4) Contingent liabilities not provided
for:
Year ended Year ended
Particulars 31.03.2014 31.03.2013
Rupees Rupees
Guarantees issued by the bank
on behalf of the Company - 1,185,000
Disputed Excise Duty demands is
in appeal before Supreme Court 670,488 670,488
5) Segment Information
The Company has identified two reportable segments viz. Gases and
Investments. Segments have been identified and reported taking into
account nature of products and services, the differing risk and returns
and the internal business reporting systems. The accounting policies
adopted for segment reporting are in line with the accounting policy of
the Company with following additional policies for segment reporting.
(a) Revenue and expenses have been identified to a segment on the basis
of relationship to operating activities of the segment. Revenue and
expenses which relate to enterprise as a whole and are not allocable to
a segment on reasonable basis have been disclosed as "Unallocable".
(b) Segment assets and segment liabilties represent assets and
liabilities in respective segments. Tax related assets and other assets
and liabilities that cannot be allocated to a segments on reasonable
basis have been disclosed as "Unallocable".
6) Disclosure of transactions with related parties as required by
Accounting Standard - 18 on related party disclosures as prescribed by
Companies (Accounting Standards) Rules, 2006.
A Related parties and nature of relationship
i) Key Management Personnel
- Shri Sanjay A. Poy Raiturcar - Managing Director
- Shri Manohar S. Usgaonkar
- Shri Ashok Panvelkar
- Shri Nitin A. Kunkolienkar
- Mrs Binita S. Poy Raiturcar
- Shri Sudin M. Usgaonkar
ii) Enterprises over which persons in (i) above are able to exercise
significant influence:
- Nasik Oxygen Co. Pvt. Ltd.
- Fabrica de Gas Carbonico Pvt. Ltd.
- Nalanda Agencies Pvt. Ltd.
- Venkatesh Automobiles
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